| Decision | Consent Granted Section 12(b) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 3 November 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 100% of the Shares of Dow Chemical Company which owns or controls a freehold interest in approximately 275.2371 hectares of land at:
An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the Shares of Dow Chemical Company, the value of the assets of Dow Chemical Company and its 25% or more subsidiaries being greater than $100m. An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the Shares of E. I. Du Pont de Nemours & Company, the value of the assets of E. I. Du Pont de Nemours & Company and its 25% or more subsidiaries being greater than $100m. |
| Asset Value | Approximately $364,100,000 |
| Applicant | DowDuPont, Inc Existing Shareholders of E. I. Du Pont de Nemours & Company, Various (50.0%) Existing Shareholders of Dow Chemical Company, Various (50.0%) |
| Vendor | E. I. Du Pont de Nemours & Company Dow Chemical Company |
| Background | E. I. Du Pont de Nemours & Company and Dow Chemical Company intend to combine in an all-stock merger of equals. The merger of equals will be a global merger of the two businesses, resulting in a combined company, being the Applicant (DowDuPont, Inc). The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Mei Fern Johnson Russell McVeagh PO Box 10-214 WELLINGTON |